Huntington Bancshares’ (HBAN) Equal Weight Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report released on Tuesday morning,Benzinga reports. Stephens currently has a $18.50 price objective on the bank’s stock.

A number of other equities research analysts have also recently commented on HBAN. Piper Sandler dropped their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday. Citigroup boosted their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI increased their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday. Finally, Barclays increased their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares Stock Up 0.2 %

Huntington Bancshares stock opened at $16.90 on Tuesday. The business’s 50-day moving average price is $17.01 and its 200 day moving average price is $15.56. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. Huntington Bancshares has a 52 week low of $12.05 and a 52 week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the business posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.37 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.67%. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares in the last quarter. FMR LLC lifted its stake in Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after acquiring an additional 3,410,597 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares during the period. Point72 Asset Management L.P. grew its position in Huntington Bancshares by 194.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock valued at $42,226,000 after acquiring an additional 2,116,839 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after purchasing an additional 1,522,767 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.